EURUSD Inverted Head and Shoulders can take it much higher

The pair's obvious pattern on the long run is a Channel Up. Inside this we've spotted an Inverted Head and Shoulders, whose Head to Right Shoulder is +3.70%. The price target on those patterns tend to be a proportional rise from the Right Shoulder. A new +3.70% extension places a target tag at 1.1300. If this is performed within the Channel Up then it could be another month until it gets hit.

The accuracy on the structure of an Inverted H&S can be seen in October/November where a similar pattern formed a proportional +3.80% rise after the Right Shoulder and priced the November 15th high.


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